Testimony to the Portland (OR) City Council by Chief Economist Brian Callaci

Chief Economist Brian Callaci was invited by the Portland (OR) City Council to testify in support of a proposed ban on algorithmic price-fixing in the city’s housing market. Drawing on OMI’s past work on algorithmic pricing, Callaci emphasized that collusion between competitive rivals is illegal under the antitrust laws, whether it happens in a smoke-filled room or on the internet. Callaci presented evidence showing the effects of price-fixing algorithms in real estate markets, which have an estimated $25 per month to renter costs.